TD Cowen Reaffirms Buy Rating on Tapestry (TPR) After CEO Meeting

Core Insights - Tapestry Inc. is recognized as one of the best performing retail stocks in 2025, with a reaffirmed Buy rating and a price target of $120 by TD Cowen after a recent visit to the company's facilities [1][2] Financial Performance - Tapestry reported record first-quarter fiscal 2026 results, generating $1.7 billion in revenue and earnings of $1.38 per share, reflecting a 16% increase in sales and a 35% growth in EPS year-over-year [2] - The flagship brand Coach contributed significantly to this growth, achieving a 21% revenue increase, while Kate Spade experienced a decline of 9% [2] Strategic Insights - TD Cowen noted that Kate Spade is still a "work-in-progress" and requires patience, but expressed confidence in the "One Coach" strategy if implemented effectively across product lines [3] - Tapestry operates in three segments: Coach, Kate Spade, and Stuart Weitzman, providing luxury accessories and branded lifestyle products across various regions including North America and Greater China [3]